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Examining elements of a paycheck

Updated

Students review a sample pay stub to understand the real-world effect of taxes and deductions on the amount of money workers take home.

Big idea

A paycheck typically includes payment for work completed and a pay stub that records earnings and all deductions. 

Essential questions

  • How is the amount of a paycheck calculated?
  • How does gross income differ from net income?

Objectives

  • Understand the components of a pay stub
  • Become familiar with the types of taxes that are deducted from a paycheck

What students will do

  • Review a sample pay stub.
  • Discuss the entries and deductions on the pay stub and what they mean.

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Teacher guide

Examining elements of a paycheck (guide)